Energy Industry: What’s Next?
Welcome to H&J Petroleum’s Weekly Energy News Roundup!
Supply & demand continue to drive the price of oil while advances in the cost to produce oil & gas are changing the face of economically recoverable reserves and the outlook of the industry. Dive in by reviewing the articles below.
“I believe, that while we may not see $100.00 Oil or $12.00 gas in the near future, the new oilfield will be able to not only sustain but to thrive in a $60 – $70 oil environment due to advancements in efficiency and technology.” – Matt Hood
Permian Basin High Grading Trends
Over the past 6 months, operators have shuffled their drilling rigs to focus on the best prospects in drilling inventory. This high grading means rig demand in the most economic areas of the Big 3 oil plays will fare better – not many operators are experimenting on the fringes in this commodity tape […] read>>>
Iraq About to Flood Oil Market in New Front of OPEC Price War
(Bloomberg) — Iraq is taking OPEC’s strategy to defend its share of the global oil market to a new level. The nation plans to boost crude exports by about 26 percent to a record 3.75 million barrels […] read>>>
Traders Watch the Falling Price of Oil Storage
Futures prices indicate the physical market is easily absorbing the large volume of crude being supplied and global rebalancing is well underway. The price for storing a barrel of Brent for six months has fallen […] read>>>
Leasing In the Oil Patch Is Stronger Than You Might Expect
Like most companies in the oil patch, Drillinginfo must adapt and recalibrate its strategies to current economic conditions. Much like our customers, we look to the data collected from sources across the industry to understand trends and adjust plans […] read>>>